The Senate deputy majority leader, Senator Risa Hontiveros, on Monday called for the passage of a ₱52.8-billion supplemental budget to cushion the impact of an impending spike in petroleum prices as tensions escalate in the Middle East.
During a press briefing, Hontiveros said the proposed emergency package would provide subsidies to key sectors and support the repatriation of overseas Filipino workers (OFWs) who may be affected by the geopolitical crisis.
Under the proposal, ₱12 billion will be allocated for transportation subsidies, ₱2.8 billion for agricultural support, and ₱38 billion for the repatriation and reintegration of OFWs.
“Ang panawagan natin ngayon ay simple at hindi tingi-tingi. Kailangan pag-usapan, ihanda, at ipasa ang isang emergency supplemental budget package na sa estima ng aking opisina ay aabot ng ₱52.8 billion,” Hontiveros said.
The senator noted that current government allocations for these programs are limited. The transportation sector subsidy currently has about ₱2.5 billion, while the agriculture sector receives ₱150 million, and the emergency repatriation fund under the Department of Migrant Workers (DMW) and the Overseas Workers Welfare Administration (OWWA) stands at only ₱1.76 billion.
Hontiveros said the government has potential funding sources for the proposed supplemental budget.
These include the estimated ₱70 billion in unused funds from discontinued flood control projects last year and around ₱2.5 billion allotted for farm machinery under the Philippine Center for Postharvest Development and Mechanization, which she said could be repurposed as an agricultural subsidy.
She also said funds could be freed from the ₱17.5-billion budget for the Philippines’ hosting and chairing of the ASEAN Summit if spending is rationalized.
“Pwede tayong kumuha sa Php17.5 billion na pondo para sa pag-host at pag-chair ng Pilipinas sa ASEAN 2026 summits at meetings. Kaya yan kung magraraionalize ang ating organizers,” she said.
The senator further said the money may be freed up through the “phased obligation” of some large-scale infrastructure projects so that the entire project cost does not have to be released immediately.
In addition, Hontiveros said agencies may initially tap part of the ₱23.4-billion National Disaster Risk Reduction and Management Program under the 2026 national budget to begin distributing subsidies even before a supplemental budget law is passed.
“Kahit nga wala pang batas para sa supplemental budget, pwede nang magsimulang mag-abot ng subsidies even if partly ang mga ahensya gamit ang pondo ng National Disaster Risk Reduction and Management Program na may Php23.4 billion sa ilalim ng 2026 budget,” she said.
The senator added: “Hindi totoo na wala tayong pagkukunan. Mayroon. Kailangan lang pag-usapan, pag-isipan, at aksyunan na agad.”
However, she emphasized that the disaster fund is primarily intended for communities recovering from recent natural calamities and would still be insufficient to address the broader economic impact of rising oil prices.
The senator also said that lawmakers are still studying the possible request for emergency powers by President Ferdinand 'Bongbong' Marcos Jr. in response to the situation.
“Pinag-aaralan pa namin yung request na ‘yan for emergency powers, pero reasonable siya kahit sa ilang ibang mga sitwasyon,” Hontiveros said.
Still, she stressed that emergency powers alone would not be enough.
“Kailangan talaga pakete ng mga responses kasama na ang OFW repatriation and reintegration, energy subsidy, at agricultural subsidy,” she said.
Hontiveros added that suspending excise taxes on petroleum products may also be considered, but said other options are under study, including the possible suspension of the value-added tax (VAT) on petroleum products.
